A Quote by Charlie Munger

Berkshire has the lowest turnover of any major company in the U.S.The Walton family owns more of Wal-Mart than Buffett owns of Berkshire, so it isn't because of large holdings. It's because we have a really unusual shareholder body that thinks of itself as owners and not holders of little pieces of paper.

Charlie Munger

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Any Because Body Buffett Company Family Itself Large Little Lowest Major More Owners Owns Paper Pieces Really Than Thinks Turnover Unusual Wal-Mart

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Charlie Munger
American - Businessman
Born: January 1, 1924

We don't have an isolated group [of senior managers] surrounded by servants. Berkshire's headquarters is a tiny little suite. We just came back from Berkshire's board meeting; it had moved up to the board room of the Kiewit company and [it was so large and luxurious that] I felt uncomfortable.

Charlie Munger

Nirvana, to a value investor, is paying a cheap price for a company that is growing in value every year at a nice rate - this largely explains why today we own stocks like Berkshire Hathaway, McDonald's, Wal-Mart, Microsoft, Costco and Anheuser-Busch.

Whitney Tilson

Wal-Mart, we've been known for many years - back to the days of when Sam Walton started the company - we've been known for basics. The basic need of families and people across America. Wal-Mart was known as the place for basics.

Mike Duke

I think the foundation at Berkshire [Buffett's stake in Berkshirewill pass to the Buffett Foundation upon his death] will be a plus because there will be a continuation of the culture. We'd still take in fine businesses run by people who love them.

Charlie Munger

I've seen articles suggesting that Wal-Mart buys at prices lower than our competitors', and that this gives Wal-Mart an unfair advantage. I don't believe it... What we hear is concern that in some circumstances, Wal-Mart may actually be paying more than our competitors.

S. Robson Walton

The saga of a nation is the saga of its families written large. And whoever owns the family owns the future.

Tony Evans

At Berkshire, I both initiate and monitor every derivatives contract on our books ... If Berkshire ever gets in trouble, it will be my fault. It will not be because of the misjudgments made by a risk committee or chief risk officer.

Warren Buffett

Wal-Mart has become the whipping boy for political demagogues, unions and anti-traders. I suggest that they have the wrong target.... Wal-Mart exists and prospers because tens of millions of Americans find Wal-Mart to be a suitable source of goods and services..... unions and anti-traders should direct their outrage and condemnation at the tens of millions of Americans who shop at Wal-Mart and keep it in business.

Walter E. Williams

What's fascinating . . .is that you could now have a business that might have been selling for $10 billion where the business itself could probably not have borrowed even $100 million. But the owners of that business, because its public, could borrow many billions of dollars on their little pieces of paper- because they had these market valuations. But as a private business, the company itself couldn't borrow even 1/20th of what the individuals could borrow.

Charlie Munger

Wal-Mart has done more for poor people then any ten liberals, at least nine of whom are almost guaranteed to hate Wal-Mart.

Thomas Sowell

Wal-Mart has always paid low wages, or, as Sam Walton put it, 'as little as we could get by with at the time.'

Bill Dedman

At Wal-Mart, if you couldn't explain an idea or a concept in simple terms on one page of paper Sam Walton considered the new idea too complicated to implement.

Michael Bergdahl

If Facebook owns social, if LinkedIn owns business, who owns your health?

Kevin Plank

If we completely repealed the estate tax, it would provide an estimated $32 billion tax break for the Walton family - the founders of Wal-Mart.

Bernie Sanders

To operate a company of the size of Sears Holdings or Wal-Mart or Target or Home Depot or Lowes, you need a combination of skills, and each of those skills needs to be sufficiently strong.

Edward Lampert

To operate a company of the size of Sears Holdings or Wal-Mart or Target or Home Depot or Lowe's, you need a combination of skills, and each of those skills needs to be sufficiently strong.

Edward Lampert

A Quote by Charlie Munger

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